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. >> by growing the economy. just a couple numbers. already in this meager economic recovery, we've increased revenue to the federal government by $344 billion. if we just return to a normal economy, like we had in 2007, under president bush, where proven was 18.5% of our economy, that would raise another $400 billion per year. the president's proposal right now, the highest estimated is $75 billion, a tenth of that. economic growth is 10 finals more effective at raising revenue. the problem with punishing success, the problem with the president's proposal, it will put that economic growth at risk. you know, i think the best question really is, what is the president's plan? show us your plan. this is about returning confidence to the economy. >> greta: a plan to rev up the economy or a plan for spending cuts? >> a plan for reducing the deficit which actually would return certainty to the economy, restore confidence, which would help economic growth. punishing success will not do that. temporary tax increases don't do that as well. >> greta: it's interesting, almost seems like a game of chicke
this one and that is good for the american economy. >> we look back republican senator rand paul from the state of kentucky. senator paul, welcome, as always. i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong. >> there are some people saying we need a deal to avoid a huge tax increase but year end that would throw us into recession. just a thought, would you compromise in terms of let's say a smaller tax rate increase -- let's say the top rate goes to 37% instead of 40%, maybe the threshold goads es to $500,000 $750,000 rather than $250,000? does that interest you? >> no. but what about means testing for entitlement. why don't we say the rich get less soc
it to some of the other developed economies, you can see how well australia is holding up. we've seen growth of just 2.5% in the u.s., 1.5% in canada and zero growth in the uk. locally, cutbacks in government spending weighed on the numbers and lower commodity prices also impacted on cash flow and the government is facing more criticism about its effort to keep the budget in surplus while the economy grows. >> the government has had the objective of making sure that we would bring our budget back to surplus when growth has been around trend. what we've been seeking to do through good budget policy has been to provide maximum flexibility to the reserve bank to a just rate so. the government will always put in place appropriate budget settings which will support growth and jobs. >> still, analysts say growth could slow further as the mining investment boom peaks. yesterday, the bank of australia cut interest rates to a record low of 3% and traders are looking further easing next year to offset the falling talks of trade, the high australian daughter and further cutbacks in government spending.
news" with scott pelley. >> pelley: good evening. the u.s. economy is looking significantly stronger tonight than it of did just a short while ago. have a look. the government revised its estimate of third quarter growth from 2% to 2.7. that means the economy was growing more than twice as fast in the third quarter as it was in the second when growth was just 1.3%. so, are we turning a corner or is this a one-quarter wonder? we asked anthony mason to find out. >> reporter: business is looking rosy at the internet retailer wine.com. new york general manager chris boone is expecting a strong holiday season. in from thanksgiving on, we've got our running shoes on, and we're running and hustling. >> reporter: wine.com just had a huge third quarter. sales jumped 15%, and the company recently expanded into a new warehouse. >> the old warehouse we had was 15,000 square feet. this current one is 30,000. it's great for us, it's great for business, and i'm happy to ae the growth. >> reporter: across the u.s., economic signals are improving. pending home sales, which track contract signings, ju
in the economy that would indicate that the job market is strong enough to actually bring down that overall unemployment rate. earlier this fall weekly jobless claims had dipped below that line, right before the election, and now they seem to be creeping above it, 393,000 is the number that we're hat today. it's interesting to note that we're going to get an overall unemployment number coming out. some people think based on this number that that could go back above 8% as well. bill: we were so keane on these numbers and waiting for them to tell us what they would tell us about the economy, and how voters were thinking and feeling and how it would play out in the election. a lot of people are now saying hey man, wrist the attention on the numbers. job number one is how to maybe the economy stronger. guess who is coming to the white house for lunch? >> mr. president you're entitled as a president to your own aeu own airplane and own house but not to your own facts. bill: those are topics that will likely not come up today. martha: peanut butter and honey is mitt romney's sandwich. we'll see i
savings as part of that and invest in things that matter to the american economy. we think we can do that. we have a good chance to do it now. it's important that we do it. i think we're going to get there. >> given tough talk over the weekend, why aren't we waking up to down numbers, red arrows? >> europe is terrific. bond rates are phenomenal. a great run. china numbers are better. i think that there's a lot of people who feel like doug cast does who writes with me with a piece in "the new york times" saying that -- >> most stuff is nontaxable accounts any way. most stocks that people won't be as motivated to sell as people think. of course that doesn't necessarily deal with the increase in payroll taxes and the whole recession side of it. it does deal with the stock market side in terms of selling. >> why not say, listen, fiscal cliff, i have to cut numbers. i have to cut guidance. i think many ceos will cut guidance because of the possibility that the amt is going to -- this alternative minimum tax, people don't know they have to write a check for $3,500 at the end of the year. once y
the kinds of revenue from the wealthiest americans to help the economy grow and achieve deficit reduction and this puts us on a path towards a better economy. >> [inaudible question] what will he do at this moment? >> i would simply redirect that question to the republican leaders, who to this day, have not put forward any proposal on how they would achieve revenues and address the issue on the top 2%. there is no other way to do it, there is no other mathematically sound way to do it. making vague promises about achieving revenue through capping deductions were closing loopholes, it simply doesn't add up to a serious proposal. we haven't heard which deductions they would cap or which loopholes they were close. what is true is that other proposals that have been put forward include attempts to raise revenue only through closing loopholes and limited deductions can only achieve this if the middle class gets stuck with the bill. or if you have a proposal that is wildly limply unfeasible because it suggests that we would wipe out charitable deductions. it is simply impossible and getting som
this economy moving. say what you will. california does seem to be showing the first seedlings of improvement. activity picking up here. home sales picking up here. retail sales picking up here. not dramatically. when a third of voters say things are getting better and they're more confident they will get better, well that might seem very anemic to you, it is double what it was a little more than a year ago. so progress in this western state where they seem to favor of late raising taxes more than they do cutting spending. just that spread to washington in era we're told with ongoing fiscal talks they might be weighed more towards tax hikes than spending cuts. we thought we would be fair and balanced about this with two california governors, a democrat and republican. you should recognize both. democrat gray davis and republican pete wilson. good to have you. >> thank you, neil. >> good to be with you, neil. neil: thank you, governor davis. since you're not with me, governor davis, in the studio here but governor wilson is i'm going to him first. the thing i will raise with you, governor wils
are willing to make sure we don't go over this fiscal cliff but at the same time don't harm this economy. what has to happen here if the president shows a little leadership we are willing to stay in the room and stay here and we are willing to get this done. that's why you saw a proposal that is raoeubl reasonable that meets his criteria. >> reporter: steny hoyer said in the next few days we will see substantive movement in private to get this done. jenna: we'll continue to watch the play-by-play, mike, thank you. jon: right now we are continuing to await a speech by former president george w. bush, the speakers are taking to the podium there to get ready to introduce the former president. he is set to address a conference there in dallas, where he will spotlight the positive impact of immigration on u.s. economic growth. this as the g.o.p. looks to attract more hiss to the party. meantime mr. bush's father, former president george h.w. bush is spending another day in the hospital being treated for bronchitis and a lingering cough. we told you about that last week when we first found out that
, and the economy. without it, things simply can't exist. woman: we have good health in this country, in part, because we have clean water. and we shouldn't forget that, and we shouldn't take it for granted. melosi: in the late 19th century, serious waterborne disease epidemics were having devastating effects. roy: but then, in the early 1900s, we began to treat our water. and since then, we've seen a rapid decline in the incidence of waterborne disease. narrator: most cities treat drinking water through filtration, chlorination, and sometimes ozonation to kill pathogens in the source supply. these are complex treatment plants that cost millions of dollars to operate, but are necessary for our wellbeing. the treatment of drinking water has been called one of the greatest public health achievements of the last century. the water infrastructure itself protects the treated water until it comes out of our taps. it's been since 1911, since we had an outbreak of cholera or typhoid in the united states. but that doesn't mean that it can't happen. it can happen. if we aren't on our guard all the time
low. that's what our economy needs. that's what the american people deserve. >> bill: you'll see some photos of this event yesterday at the white house up on our web site at billpressshow.com. again, the president pointed out it's passed the senate. get it through the house. he's got his pen ready to go. >> obama: democrats in the house are ready to vote for that same bill today. if we can get a few house republicans to agree as well, i'll sign this bill as soon as congress sends it my way. i gotta repeat, i've got a pen. i'm ready to sign it. >> bill: he held up his pen. i've got a pen. he says a few house republicans that's right, you don't need that many but you need to bring it up for a vote. boehner won't do it. why won't boehner do it because boehner says that still says -- he's just dead ass wrong he still says that raising taxes on the wealthiest of americans on the 2% would cost -- would kill jobs and kill the economy and we know from the eight years under bill clinton proven just the opposite. in the
. martha: he argues the economy is ready to take off if people would just stop playing the blame game. bill: one of the changes that may be coming is the reduction in the mortgage interest rate duck you can claim. but according to the i.r.s. only a small percentage of americans claim it after all. all. 37% in maryland and 15% in north dakota. 73 per of americans are opposed to changing that. martha: the owner of popular restaurant chains claims complaints about obama-care have been hurting the company's bottom line. the head of darden says part of the blame is the negative coverage on the company's position on obama-care. we are just beginning on this wednesday morning. dock workers getting back on the job after a crippling 8-day strike at the port of los angeles and long beach. we'll look at the toll that the work stoppage has taken on the u.s. economy. bill: a questionable cartoon featuring the rich stealing from the middle class. martha: two rising stars in the republican party laid out their vision for the future last night and for their party. >> we need to carry on and keep fighting f
'll be impacted, won't be able to put more money into the economy, won't be able to help turn the economy around. so that really is sort of the big sticking point. the white house refusing to budge from it at this point. we'll see where it goes in the next coming days. >> topic two, that is that the president is meeting with the leaders of the national governors association. i have the lineup here. a lot of people haven't heard of some of those folks. jack markell, dayton, beebe, gary her bet of utah, mary fallin of oklahoma and wisconsin's goff scott walker who i think a lot of people are familiar with. the question is why are they there, what do they want and why wh -- what do they want to say? >> a lot of reasons. the president wants to make his case to them, and then in turn hopefully that they will go up on capitol hill. of course, some of them will be meeting with house speaker john boehner and senate majority leader harry reid. so the hope is they will put pressure on their lawmakers from their states to get a deal done. but also this is a chance for these governors to talk about the fact
and international economies as well. can you reassure them that you will come to some sort of a deal? >> i think that we will. we're in the early stages of the serious negotiations and that president -- the president has put forth an offer and speaker john boehner has put forth that offer. the fact that this is rejected is to be expected but it is testing ground. we have seen that between them have gone through this process. i believe we will get there. both sides so that we cannot win are refusing to compromise. we both have our right to be here and we have countered with some revenue in places. we want to see what the president will do in terms of cuts. where are concerned about the deficit. i believe we will get there. i really do. >> you are a perennial optimist. you make everything seem sunny. we are at a stalemate. republicans do not want to raise taxes and democrats to know what to -- do not want to cut spending. >> the president has the political upper hand. if nothing happens, the tax rates do expire as is and they go up and the sequestration of takes place. he can vote -- publicly blam
the house of commons from the british economy -- on the british economy, he had to read mcvet is taking much longer than in must got to balance -- he had to admit it is taking much habrÉ than it osborn when o address was first thought to balance the nation's books. >> the people want to know that we are making progress, and the message today is that we are making progress. it is a hard road, but we are getting there. >> he pointed to the economic problems globally that are making his job harder. as a result, the chancellor announced austerity would have to last for logger, until 2018, in fact. that means more benefits will now be squeezed, and there will be a tax rates on the pension pops. >> i know these tax measures willthought to balance not be r. ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set
. the u.s. economy added 111,000 private sector jobs according to adp. a bit weaker than expected. because of impacts from hurricane sandy. the bank saying it is looking for ways to cut expenses. those cuts amount to 4% of the companies workforce and is estimated to save $1.1 billion every year. stocks now and every 15 minutes. nicole petallides. nicole: we are looking at a market that is to the downside. let's take a look at citigroup. it is about 4% of the workforce. citigroup is higher. it has had an up arrow throughout the day today. we saw the dow jones industrials this week to the downside. we had two consecutive days in selling. down arrows for the nasdaq. down 1.1%. connell: breaking news out of washington. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerged not yet where we need to be, but we certainly have made progress. the reason we have made progress in part is because of the outstanding management and productivity and gains and efficiencies that you have been able to achieve in each and every one of your compan
and congress have just one month to prevent tax hikes and spending cuts that really could send the economy according to some right back into a recession. we are glad you are with us on this friday, everybody, i'm jenna lee. jon: i'm jon scott. president obama offering his opening bid to avoid the fiscal cliff but it's not going over well at all with republicans. house speaker john boehner saying no progress has been made in negotiations. mike emanuel is live on capitol hill now. what are the republican complaints, mike, and how are they pushing back at the president? >> reporter: senator john john cornyn who is a member of the rupp leadership says he thinks president obama wants to go over the fiscal cliff by proposing higher taxes, no spending cuts and no plans to save entitlements. with president obama going to pennsylvania today, the house republican whip, kevin mccarthy's office put out a video profiling a small business nearby in pennsylvania that would get hurt by a tax hike. >> i'm jerry gorsky from an engineering company. however good or bad we do is my income. this notion of $250,
talking point that lowering taxes on rich people stimulates the economy. i have a degree in economics and my dad was an economics professor. and i know that it's the opposite. >> bill: yeah. >> caller: to stimulate the economy, you have to tax rich people who are just sitting on that money. they're refusing to use it to help the economy. and the government uses that money to put people to work, rebuilding bridges schools hiring people to inspect our food so we don't die from eating peanut butter or getting shots. >> bill: amen, amen. hey, paul, it has been proven, right? right, igor? we had eight years. >> in great growth and great jobs. in a consumer-based economy where people have to buy -- you have to participate in business for the economy to grow, you've gotta give -- as the president said, you've gotta grow the economy from the middle out. if the relief doesn't go toward middle class americans, if they can't participate in the economy, yeah, you're going to have a top 1% or 2% folks who do really
. that would be good for stimulating the economy. but the big thing is hit there needs to be a balanced plan. we need more revenue and we need less spending at the federal level. what is good for california is not good for virginia and what's good for virginia is not good for maryland. maybe we need to focus on reducing the federal government overview. been there would not be as much spending or taxes needed. then let the states deal with the taxes they need to take care of their citizens. host: robert, milwaukee, democratic caller. caller: i would like to say that the republican party, not all of them, i think it's just the tea party, they are destroying the republican party. when i saw senator dole in his wheelchair yesterday and military disabled individuals throughout the world, when they did not pass the ada treaty, which was signed in 1990 by president george h. w. bush and then it continued on with president bush and clinton and everyone else thereafter, when they did that, now i understand they are just not the party that any of us would want to be involved with. that's all i have to
paid down and start growing the economy again. that's not unusual or new to any of us. nobody in the country. so i think the president is sticking to what he said throughout the campaign and as i said 3 million more people voted for him than voted for the other guy. >> with that said, on taxes, if there's any chance on your side, is there any chance on your side to come down to the form of a smaller tax hike on incomes above $250,000 or would you consider keeping rate it is same at $250,000 and raising them only on higher incomes, say half a million or $1 million a year? >> i think it's all part of the negotiations. we know where the president is and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000, some say even a million. all of that is going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he will do that. but the president stands at 250. which is below even where i was but he won the election. so i'm going to respond to the president though it's a number diffent from
to figure this out. lori: i was speaking with martin felton yesterday of harvard, the u.s. economy is still in serrous danger of falling into a recession. >> i think the fiscal cliff is the single biggest risk. if we avoid that, i think we have a good shot of growing. not rapidly, but between one and 2%. housing is recovering. i think without the fiscal cliff, we will do all right. lori: tax rates or than likely are going up, at least for one class. you have this slow growth. at the same time, think of the federal reserve keeping rates low for so long. we could be in serious trouble. >> on the inflation front, we are not very worried for the next year or two. it is out there, but not the next year or two. they will phase in whatever tax increase they put in. it will not hit next year. it will phase in over a couple years. that is the smart way to do it. lori: thank you for your time. >> thank you. you bet. melissa: i would like to be optimistic. date -- details of the probe have not been released. over 80 people have already been questioned about the more than $5 billion in trading losses l
with some ideas. to your point, you're written quite extensively on this topic. it seems the economy is poised to fall off the cliff and that's what the democrats and the president wants to happen. >> they want to allow all the bush tax cuts to expire. it happens naturally automatically. they don't even have to vote for it. in january we had to lower taxes for everybody. getting it very simply. lori: a lot of people are concerned. if we do go over the cliff, there's no resolution for the alternative minimum taxes, will not be passed that does not get resolved you have 20 million more americans who have to pay this tax otherwise wouldn't and again that could be good leverage for the republicans. how do you see that issue playing out? >> that is a big one because alternative minimum tax largely hits blue states, democratically states like maryland, new jersey, new york, connecticut, california, illinois, all of those are democratic strongholds so they can save the white house were not going to patch it unless you give us something we would like, that gives them a little bit more negot
the fiscal cliff will not just impact the national economy but have a lot of impact on state and local economies, as well, and their state budgets, et cetera. the president, though, is standing firm. and jake carney saying unless the republicans give in on tax rates and raise the bush tax rates on the rich, there is no deal and the president is willing to go off the cliff. they hammered speaker boehner's proposal. >> we don't know who pays. we don't know what we are talking about in terms actual legislation to increase revenues it is magic beans and fairy dust. >>reporter: it doesn't sound like they are ready for a compromise. he said they do not take speaker boehner's proposal seriously enough to offer a counterpropsal so the white house believes the ball is still in the republicans' court. >>shepard: but speaker boehner has moved, if shiply and if for the first time in public but he has moved. >>reporter: he has. he is not willing yet, not yet, anyway, willing to raise tax rates. in speaker boehner's proposal he put revenue, tax revenue of $800 billion on the table. you her the white
sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." you know who's coming on to me now? you know the kind of guys w
, and that one, scott, cost the economy $15 billion. >> pelley: john, thank you. there is nothing stopping a pacific storm that is headed to the coast. this is a computer forecast that projects the density of moisture reaching from hawaii toward northern california. more than a foot of rain is predicted and mudslides are a danger. carter evans is in sacramento tonight. carter? >> reporter: scott, the sun broke through a few hours ago, but there still is a danger of flooding and mudslides through the weekend. more than half a foot of rain fell on northern california today. 40 mile per hour gusts have already knocked out power and toppled trees in san francisco. >> thankfully this didn't hurt anybody but it could be a lot worse. >> staying dry. >> thanks to you. >> where are you staying tonight? >> tonight, down the street. >> reporter: sister libby fernandez expects to help about a thousand people at this homeless center in sacramento with dry clothes and ponchos. >> this is weird because the weather's usually good here. >> the rivers are high, they're flooding. many of our homeless guests
away from our economy that needs to be invested in our economy to put the american people back to work. now, it is the wrong approach. sthao republicans want the tax cut extended for everyone not just the middle class. they will work towards an agreement before the january 1st deadline. the gridlock on capitol hill was left unchanged. nasdaq dropped chose to 2. the judge says the boy scouts do not have to release files containing decades of sexual abuse complaints. a court in texas allowed the release of files from 1959 to 1985. they listed hundreds of cases in which scout leaders or volunteers from the bay area were dismissed for their behavior. the order today covers files from 1985 to last year. the spokesman says keeping cases confidential encourages people to report abuse. >>> a south bay mansion is the scene of a homicide. why investigator his to rush to collect evidence. >>> and everyone wants to know is this the moment one man learned that his life had changed forever? the video that may answer the mystery surroundinged with's massive powerball jackpot. >>> and, we are still on
to hit record highs. >>> help wanted. why, in this economy, are some big american brand names having a tough time filling thousands of open jobs? >>> and women warriors. they're breaking barriers, battle tested, and every bit as tough as the guys. >>> good evening. there is deep shock and sadness tonight in kansas city, missouri, and across much of the football world after a horrible tragedy that has left an nfl star player and his girlfriend dead in an apparent murder-suicide. police say kansas city chiefs linebacker jovan belcher shot the 22-year-old woman before he headed to the stadium he was expected to play in tomorrow afternoon. it was there he turned the gun on himself. thanh truong joins us from arrowhead stadium in kansas city. good evening. >> reporter: good evening to you. arrowhead stadium is a symbol of pride for this city and the kansas city chiefs but there is a lot of sorrow here right now after a deadly day ended not far from where i'm standing. shortly before 8:00 this morning, gunfire erupted at this kansas city suburban home. >> when we arrived, a lady came out a
's economy. katie marzullo is live in the newsroom with that and the housing news. >> reporter: the new economic forecast from ucla has lukewarm predictions for california jobs and personal income will suffer under prop 30's tax hikes. housing improvements will help the state, california will continue to grow but not as much as it iced to. the forecast says the new tax -- tax revenues under prop 30 will slow economic growth but will not derail recovery. unemployment is one example jobless rate in california should average 10 1/2% by the end of the year improved to 9.7% in 2013 and fall to 8.4 in 2014. meanwhile, great news on home prices. they have surged more than 6% in one year, the biggest jump in six years. the median home price up $18,000 to $178,600. california is one of the top 10 states where prices are rising the fastest. just crossing the wires this morning, labor department reports u.s. workers were more productive this summer, they cost their companies less, that's good. banks are seeing profits again and starting to lend money a little more freely. katie marzullo, abc7 news
weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be raised on the revenue side. let's listen to more from harry reid about the democrats stance on this. >> we are ready to protect middle class fam
, in the third quarter, the u.s. economy expanded at an annual rate of 2.7%. and that's better than the original 2% even that was reported a couple of weeks ago and last week, there were 393,000 new claims for jobless benefits and down from the previous week, but you're still very close to the 400,000 per week mark and that's a sign of weakness, albeit, come of that clearly from the storm, that's still not a healthy vigorous rebound, is it? trading has begun this thursday morning. we're expecting the dow to go up 50, 60 points and that's in part because of the fiscal cliff debate and looks like the president won taxes now, promises of entitlement reform later and don't care about the debt. the market kind of likes that, because the money keeps flowing. in the first part of business, we're flat, i thought more than that, we're up 2, 10 points and going up from here, at least in the early going. now, we've got another big name that you know #, trying to help shareholders avoid higher taxes next year, it's disney and increased the cash dividend by 25% and paying it this year. nicole, what happens t
and the president's stance on taxes and goal with the economy and maybe what he will say in the inauguration. look who was invited to the white house >> chris: who was left to run msnbc. >> happy and ed and arihanna huffington. i don't know if the white house released the fact. but someone from the blog sites saw it. and so wait a minute what is going on. yeah, we were invited for not a strategy but just to explain. >> gretchen: i don't know why anybody. >> brian: five talk show hosts in from the same channel? that is outrageous. >> gretchen: it might be outrageous. i am not surprised by it at all. that's the message . that station is delivering the message of this administration. it makes sense. >> steve: that particular channel that's all they would do. it would be nice to see somebody from cbs or nbc or fox news channel. >> brian: it is incredible. >> steve: what do you think that the president's people invited the way left people to a sit down there at the white house. e-mail at folks news.com. >> brian: the president will not talk to republicans unless they agree to raise rates. he hasn't tal
in society and learned what earned success is all about. >> steve: it could be a sign of a lowsy economy. so many people who need jobs and as you have detailed, it is relatively easy to get on the disability list. i need to feed my family and this is my last option. >>> that's right. in a nation of moochers, part of what happens. if you are laying out money people come and take it. if the government is giving out free money, people are going to line up for that money and again, the disability insurance program is not supposed to be a jobless program and simply an economic program, it is supposed to be providing a leg up to people who need that help . unfortunately, i think it is something else. >> steve: there should be better standards. >> brian: a nation of moochers. charlie psyches, thanks so much. 26 minutes after the hour. >> steve: imagine returning home after work to an empty lot. your used to be right there and it is gone. >> she said to me are you sure your house is gone? i said you misplace a pen or pencil and you don't misplace a house. >> steve: we'll tell you the story. >> brian
toll it's taking on the economy. >> and a big sinkhole in the ground and a new storm on the way. we are learning how long an east bay neighborhood could have to live with this mess. >> and we're live in san francisco where all muni trains are back up and running after a power outage caused all of them to shut down last night. i spoke with the muni spokesman on the phone who says how they were able to get back up and running so quickly. ,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. you won't take our future. aids affects us all. even babi
went off the cliff it would have substantial adverse effects on the economy. nobody wants to go over the cliff. including, in my opinion, john boehner. however, we ought not to hold hostage middle-class tax cuts, and that's what you're talking about, tom cole, that wasn't a question of compromise, it was simply to say, look, we all agree that middle-class tax rates ought not to get a tax increase on january 1st. not good for them. not good for the economy. we'll pass that. the senate's passed a bipartisan bill that called for that. tom cole the former chairman of the republican campaign committee in the house of representatives said just earlier this week we'll all pass that. i agree with him. secondly, the republicans have agreed that we need to have some sort of balance, more and more republicans are saying we need to have revenues. you cannot do it simply with cutting spending. thirdly, i don't think that anybody wants to hurt the vulnerable in america. >> no, i think -- but the question, the question here is, is on the issue of taxes for instance. the president proposed tax cuts
orleans hit man hired to track them done to kind of restore order to the criminal economy here. corporate america overtones here. political overtones as well. an interesting movie. and brad pitt smelling like chanel no 5 throughout the thing. take a listen. >> i am going to drop a dime on a couple cops, who are going to take you back to where you are supposed to be. >> oh, yeah? >> no more booze, nothing. get yourself a shower. go to bed. i will get you up and tell you where to be. >> i don't take orders from you! >> 7:30. get some sleep. >> i miss the sopranos. only criticism i heard so far the themes are not handled subtly by the director. beats the point over the head a little bit. but brad pitt getting pretty good reviews for this one. >> i'll be check it it out, you know. >>> well, from contract killers to serial killers, the next flick is called "the collection." it's about a man who escapes from the vicious grips of the serial killer known as the collector. this man is blackmailed to rescue an innocent girl elena from the killer's booby trapped warehouse, kidnapped from a club. tak
billions of dollars according to economic forecasters. that's a big blow to an economy just getting out of a crisis. >> the strike is not only costly to the economy, it could also delay shipments of merchandise to be shoulder over the holiday season. >>> time now 6:40. tech gadgets are the hot items on this year's wish list. cnet's brian cooley is here to break down the top picks. >> the early numbers on the stock market a mixed bag. lots of time though. we'll chat about it with jason brooks when we come back. be at bank of america, we're continuing to lend and invest in the people, businesses, and organizations that call the bay area home. whether it's helping a nonprofit provide safe, affordable housing within the city, supporting an organization that's helping kids find jobs and stay in school, or financing the expansion of a local company that's creating healthier workplaces, what's important to the people of the bay area is important to us. and we're proud to work with all those who are making our communities stronger. powerful typhoon in the philippines. typhoon bop (boe-pah) roar
: we talked of the $1 billion a day. do we know how much damage this did to the economy? >>reporter: some of the damage never will be truly known because of the small businesses affected, the drivers that would have been here and stopped for lunch or breakfast and the drive across country would have stopped. there are some ships here but there are docks not totally full and a lot of empty ships, and they will be loaded today. a lot of them have been unloaded. the mayor here says no matter what happened, this was expense i. >> this cost the country about $8 billion, somewhere in the neighborhood $8 billion and 10,000 people were out of work but we shot a deal. people are going back to work. that is the good news. >>reporter: the big stores in the larger locations could get stuff late you forget there are a lot of smaller people, the guys at the smaller produce market would may have lost money. their stuff was sitting offshore or waiting to be loaded on and sat here for eight days. >>trace: thank you, adam. the millionaire software company founder wanted for questioning in a murder is
as proved in proposition 30 could have on state economy. abc 7 news joins us live now with the story. nannette? >> well, higher taxes are not expected to be a major hit to the economy. if you're looking for a job it's hard to hear about a possible slow down in highering. governor brown got voters last month to approve proposition 30. a temporary income tax increase and a boos0qz the sales tax to save public schools. but a new anderson forecast called it a double edged sword because that will have a slight drag on the committee, slowing california growth. >> republicans have been saying that sometime. it change behaviors. it's dampening economic recovery. >> the forecast estimates payroll growth hovering between 1% and 2% in next two years. it predicts the rate will average 10.5% by the end of the year, then improve to 9.7% next year with the jobless rate around 8.4% in 2014. >> jerry shelton is a school finance consultant and says the report doesn't take into aif the kth what would have happened if voters rejected prop 30. $6 billion in cuts, mostly to public education. he thinks$c]b
by climate change? >> our economy is mainly based on tourism. incidently, mainly from europe. there have been changes in the patterns of the fish, so our whole economy is now at risk. if it continues like this, the seychelles, the sea level rise will not be our biggest problem but we will become a failed state. >> you are in the indian ocean. place yourself geographically with other islands off the coast of africa that you are near. >> we are in the group of 115 islands east of kenya, north of madagascar. we cover a huge area of the southwestern indian ocean. we're at the full mercy of what happens in the ocean. we are ocean people. anything that affects oceans, whether through increased temperatures, acidification, which is a bigger threat to khor reece that morning temperatures. >> what happened with acidification? why is that a result of climate change? >> we are reaching the limits of carbon dioxide and water can take out of the air. we have abused the oceans as we have abused the forests. >> people here have said they joked that they found something with a label made in the u.s.a., and t
of los angeles and long beach, california. the strike was costing the economy an estimated $1 billion per day because it prevented shippers from delivering cargo to stores and other businesses. 40% of all goods shipped into the country come through those ports. union workers there were protesting the outsourcing of jobs. there's no word, yet, on the terms of the deal struck. >>> and speaking of the economy, there's important news for anyone who owns a home or is looking to buy. prices, skyrocketing to levels we have not seen in years. and "weekend gma" anchor bianna golodryga is here with the latest. good morning, bianna. >> reporter: good morning to you, josh. important news and good news. everyone's been waiting for the housing market to take off since the collapse in 2008. now, we're learning that home prices jumped 6.3% in october, compared to the same time last year. that's the biggest year-to-year gain since 2006. now, prices rose in 45 states, led by a 21% jump in arizona and a 13% rise in hawaii. and according to the national association of realtors, they say the number of homes a
on the economy out there. the labor department reporting that first time weekly claims fell 23,000 to 393,000 and for the first time in several weeks, superstorm sandy not distorting figures. now the overall trend is still distorted. the four-week average rose to 450,000. and another look at the economy, come from the commerce department its second look at 3rd quarter gross domestic product overall economic growth revising it higher to 2.7% from an earlier estimate of 2% also compared to 1.3% in the 2nd quarter. now, the 4th quarter is likely to be impacted by sandy and also from "fiscal cliff" worries. as far as the "fiscal cliff" goes, politico is reporting this morning that there is a framework for a deal in place that would include $1.2 trillion in tax increases and $400 billion in entitlement cuts on medicare. wall street watching that closely. let's look at the numbers. the dow is up by 45 points after gaining more than 100 yesterday. it's back over 13,000. nasdaq higher by 19. s&p right now is up by 6 points. back to you. >> thank you, jason brooks with kcbs and cbsmoneywatch.com.
the economy. he went shopping. he went to costco here in washington, d.c. and showed us with his own costco card and showed up witha firewood and a t.v. and apple pie. god bless america. lots to talk about this morning. let's find out first what's going on. here is the latest from lease a ferguson out in los angeles. hi, lisa. good morning. >> hey, bill. good morning, everyone. well, president obama is taking his fight over the fiscal cliff today heading to hatfield, pennsylvania. he is going to tour the rhodon group manufacturing facility. >> that's a place the white house says is one of the many businesses that depends upon middle class shoppers this holiday season. rhodon manufactures connect brand. that time group sells toys like angry birds building sets and tinker toys. at the end of the year, as i am sure you know by now the average middle class family is facing a 2,000 dollar tax hike. on monday of this week the white house released a report saying that could be americans spending $200,000,000,000 less in 2013. the president will continue
during this month. but now, investors are scared a plunge over the cliff could send the economy falling back into recession. those worries sent stocks falling. the s & p down two straight weeks after the election, even though it has made up four of the 5.3% loss, whenever there was a glimmer of a hope of a deal, headed up. and the fallout from the fiscal cliff could put even more pressure on unemployed americans, or those just trying to keep up with house payments. except more ups and downs for your investments ahead, but not so much because of big numbers out this week, among them, an important reading on manufacturing tomorrow, and then, what is often the biggest market mover of any month, the jobs report. november's release before the bell on friday. the cliff will likely overshadow even that. and with tax increases looming on capital gains and dividends, investors may start selling before the end of the year to get the better deal if there is no deal. that means, december may not live up to its history of heading higher and leave many questions about what the new year will mean for
will harm our economy. >> treasury secretary tim geithner also weighed in yesterday saying the president is willing to allow the nation to go over the cliff if republicans don't agree to raise taxes on the wealthy. >>> we are learning new details about colorado's shooting suspect james holmes now that thousand of e-mails in the case have been reap leased. messages indicate holmes may have had a brief romantic relationship in the days before the tragedy. we have learned that in early june, holmes began specifically talking and fantasizing about killing a lot of people. his psychiatrist was so worried that she broke confidentiality and then contacted campus police. >>> here in new york, a suspect has been charged with murder for shoving a man to his death on the subway tracks. police say, 30-year-old, naim davis admitted to pushing the victim after the two argued on the platform. the judge denied davis bail. he admitted to police he stayed on the platform watching the man get struck by the subway. >>> the long search for two missing iowa cousins apparently ended in heartbreak. the body of
. shippers are saying it is costing the u.s. economy as much as $1 billion a day. >>> in our continuing cover repblg of the if fiscal cliff, treasure secretary bluntly re-- continuing coverage of the fiscal cliff. treasure secretary bluntly reject today. >> they cost $1 trillion over 10 years and no possibility that we are twoing to find going to get it without it going back up. >> seven weeks between election day and the end of the year. and three of those weeks have been wasted. >> the house speaker want on to say he was flabbergasted by the plan. they say tell take another week for serious negotiations to begin. >>the supreme court may announce tomorrow if it will review california's prop 8 case over same sex marriage. the justices met behind chosed doors on friday but took no action on prop 8 or other casees. if the court declines to review prop 8 it will be immediately legal for same sex couples to marry in california f. it takes it up for review a final decision can change it up in every state. >> lawmakers in sacramento begin a new section with promises not to raise taxes. democrats wo
of the illness. it should be pretty protective. >> pelley: jon, thanks very much. the economy got some vital signs that are improving today. a report says that builders increased their spending in october by the biggest amount in five months, a sign of the housing recovery. and detroit's big three are putting more cars in american driveways. g.m. says its sales were up 3% last month, ford's were up 6% and chrysler sales were up 14%. there's a vehicle on mars that's revealing secrets from the planet's ancient past and we'll have that next. day gift list. aww, not the mall. well, i'll do the shopping... if you do the shipping. shipping's a hassle. i'll go to the mall. hey. hi. y'know, holiday shipping's easy with priority mail flat rate boxes from the postal service. if it fits, it ships anywhere in the country for a low flat rate. yeah, i know. oh, you're good. [ laughing ] good luck! [ male announcer ] priority mail flat rate boxes. online pricing starts at $5.15. only from the postal service. military families face, we understand. at usaa, we know ñ2milita?lry life is differe. we've been t
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